Joseph C. Visconti - 26 Nov 2024 Form 4 Insider Report for Forza X1, Inc.

Footnote F1

Disposed of pursuant to the merger (the "Merger") of Twin Vee Merger Sub, Inc. a Delaware corporation and wholly owned subsidiary of Twin Vee PowerCats Co., a Delaware corporation ("Twin Vee"), into Forza X1, Inc. ("Forza"), in exchange for 60,213 shares of Twin Vee common stock. Each share of Forza common stock was exchanged for 0.611666275 shares of Twin Vee common stock on the effective date of the Merger.

Footnote F2

Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on September 1, 2022.

Footnote F3

This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 244,666 shares of Twin Vee common stock for $8.17 per share.

Footnote F4

Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on January 15, 2023.

Footnote F5

This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 61,166 shares of Twin Vee common stock for $2.17 per share.

Footnote F6

Consists of options to purchase shares of common stock that will vest pro rata on a monthly basis over a thirty six-month period and are exercisable for a period of ten years from the date of grant, commencing on November 4, 2023.

Footnote F7

This option was assumed by Twin Vee in the Merger and replaced with an option to purchase 88,079 shares of Twin Vee common stock for $1.138 per share.